An Act to make provision with respect to public finances and other matters

1Short Title and commencement

(1)This Act may be cited as the Finance Act 1994.

(2)Except as provided in subsection (3), this Act shall come into force on the day on which it receives the Royal assent.

(3)Subject to subsection (4), sections 5 to 7 shall come into force on a day to be appointed by the Governor-General by Order in Council; and 1 or more Orders in Council may be made bringing different sections into force on different days.

(4)A day may be appointed pursuant to subsection (3) bringing section 6 or section 7 into force only if the Governor-General is satisfied, at the time of the making of the Order in Council, that at least 50% of the shares in GCS Limited are no longer held by Ministers of the Crown on behalf of the Crown.

(a)at least 1 party to it was a specified body at the time it was reached; and

(b)it was reached after consultation between the Minister of Health and 1 or more of the parties to it; and

(c)it relates to pharmaceuticals for which full or part payments may be made by 1 or more specified bodies.

(3)It is hereby declared that nothing in Part 2 of the Commerce Act 1986 applies, or has ever applied, to—

(a)any agreement to which subsection (2) applies; or

(b)any act, matter, or thing, done by any person to give effect to such an agreement.

(4)For the purposes of section 2(7) of the Commerce Act 1986 (which relates to interconnected bodies corporate), neither the commission nor any authority or hospital and health service (within the meaning of section 2 of the Health and Disability Services Act 1993) shall be regarded as having been, at any time before the commencement of the Commerce Amendment Act 1994, a subsidiary of the Crown.

(5)No person other than the Commerce Commission may commence any proceedings against an authority under section 81 or section 82 of the Commerce Act 1986 in respect of any act, matter, or thing, that has been done or will be done before 1 July 1994.

Accident Rehabilitation and Compensation Insurance Corporation

(a)actions of the Crown in paying to the Accident Rehabilitation and Compensation Insurance Corporation from the Crown Bank Account the sum of $14,625,000, inclusive of goods and services tax, (being the first quarterly instalment payable under section 109 of the Accident Rehabilitation and Compensation Insurance Act 1992 in respect of the financial year ending with the close of 30 June 1994); and

(b)actions of the Corporation in crediting that sum (purportedly pursuant to subsection (4) of that section) to the Motor Vehicle Account established under section 108 of that Act,—

shall, notwithstanding that the payment was made without the authority of an Order in Council made under section 109 of that Act, be deemed to have been, and continue to be, as valid and effectual as they would have been if the Accident Rehabilitation and Compensation Insurance (Motor Spirits Excise Duty) Order 1993 had been in force when the sum was paid.

4Corporation payment to Crown Bank Account for public health care costs in respect of year ending 30 June 1995

GCS Limited

5Amendment to State-Owned Enterprises Act 1986

(2)Notwithstanding the coming into force of subsection (1), section 22 of the State-Owned Enterprises Act 1986 shall, so long as Ministers of the Crown continue to hold shares in GCS Limited (in this section called the Corporation), continue to apply in relation to the Corporation as if—

(a)the Corporation were a State enterprise; and

(b)the Minister of Finance and the Minister for State Owned Enterprises were the shareholding Ministers for the Corporation.

Health reforms (transitional provisions)

9Amendment to Health Reforms (Transitional Provisions) Act 1993

(2)Without limiting subsection (1), it is hereby declared that the repeal of paragraph (b) of section 8(1) of the Health Research Council Act 1990 by section 32 of the Health Reforms (Transitional Provisions) Act 1993 shall be deemed not to have affected—

(a)the membership of the Health Research Council; or

(b)the validity of any appointment made under section 8(1)(b) of the Health Research Council Act 1990 (as substituted by section 3 of the Health Research Council Amendment Act 1991) in the period beginning on 1 July 1993 and ending with the commencement of this subsection; or

(c)the validity of any action taken by the Council or any member of the Council in the period beginning on 1 July 1993 and ending with the commencement of this subsection.

Reprints notes

1General

This is a reprint of the Finance Act 1994 that incorporates all the amendments to that Act as at the date of the last amendment to it.

2Legal status

Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, will have the status of an official version once issued by the Chief Parliamentary Counsel under section 17(1) of that Act.